Bitcoin, Ethereum, Dogecoin Rally, VanEck Files Solana ETF Application, But... 'Don't Get Too Excited Yet,' Warns Trader
Portfolio Pulse from Khyathi Dalal
Cryptocurrency markets are rallying ahead of the Trump-Biden U.S. Presidential election debate, with a Solana spot ETF application by VanEck as a key catalyst. Bitcoin, Ethereum, and Dogecoin are among the gainers. Notable developments include BlackRock's purchase of Bitcoin for its Global Allocation Fund and Coinbase suing the SEC and FDIC. Analysts caution about potential liquidations if Bitcoin drops to $60,700.
June 27, 2024 | 8:21 pm
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BlackRock has purchased Bitcoin for its Global Allocation Fund through the IBIT Bitcoin ETF, marking it as the third internal BlackRock fund to do so.
BlackRock's purchase of Bitcoin through the IBIT ETF indicates strong institutional interest, which is likely to positively impact the ETF's price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 80